00:00 What did Amazon do to get things right?
00:02 - Well, they did what Amazon usually does
00:06 and that's beat baby.
00:07 Let's talk a little bit about that.
00:08 Adjusted EPS at 63 cents, beating the 34 cent estimate.
00:13 Sales at 134.4 billion beat the 131.54 billion estimate.
00:18 Revenues increased 11% year over year.
00:23 They see Q3 revenues at 138 billion to 143 billion
00:29 versus a 138.25 billion estimate.
00:32 And along with the strength in cloud
00:34 driven by several AI releases,
00:37 Amazon also said it's seeing strong demand
00:40 for its advertising services.
00:43 So I think Amazon pretty much told us
00:47 there is no slowdown.
00:48 If anything, we're ramping up.
00:51 At least for this company, things are looking really good.
00:54 - Good numbers, good reports, stock up, should be up.
00:59 But again, we're in this market
01:00 where does it hold the gains?
01:02 'Cause we've seen this time and time again
01:03 where some companies,
01:05 especially this entire earning season,
01:07 where companies have struggled to hold the gains.
01:10 So we have a nice gain here in Amazon,
01:12 still long and didn't sell any stock
01:14 in my wife's long-term retirement account.
01:16 Up 11, it's a big move.
01:19 There's got some resistance overhead though.
01:21 Like, do I feel like coming in?
01:23 Here's the problem, like to get that sustained move
01:25 and continued move, you have to find more buyers.
01:28 So I look at this resistance, like 143, 144,
01:32 and I think, "Eh, I got three, four bucks upside."
01:34 But if I get a rug pull on this thing,
01:36 I got a lot more risk than that.
01:38 So I can't justify coming in here
01:40 and buying this and chasing this right now,
01:42 especially when they've been rug pulling some of the winners.
01:45 So I think, you know, talking as my book
01:48 to a certain extent here,
01:49 but if I had this on for a trade,
01:51 I would probably ring the register.
01:53 Again, I don't have it on for a trade.
01:54 I have it on my long-term investment accounts.
01:56 I'm trying to separate it.
01:57 I gotta own something.
01:58 Amazon's a pretty good company to own long-term.
02:00 I think it's gonna be higher 10 years from now,
02:03 20 years from now,
02:04 but I just don't think I'm chasing it here today.
02:07 - Yeah, it's straight.
02:08 I mean, this is the one that, if anything,
02:10 we were talking about the two stocks.
02:12 This would be, this was when I was hoping
02:14 that we'd get a dip and buy the dip,
02:17 'cause I didn't wanna buy the dip at Apple.
02:19 There was no dip.
02:20 It was a rip.
02:21 We went to 142.97 in a heartbeat.
02:25 We're three bucks away from that level.
02:27 So it's important.
02:29 From what we've seen in the Caterpillar,
02:31 from what we've seen in all these good earning reports,
02:35 ALB, if this is it, you gotta do a cap.
02:39 This has to pull a cap, catch a bid,
02:42 maybe open 140, tick 139.5, catch a 140 bid,
02:47 take out 143, keep on going.
02:51 I just don't have the confidence that it's gonna do that.
02:55 It's traded a lot of volume.
02:57 It certainly can open up at this area.
03:00 But if your target's 140, 141, 142, 143,
03:05 get a look at it early in the session.
03:06 I guess also you could use the open in this one too.
03:10 Like if you do open up and blast off
03:12 and then come back down through the open,
03:14 absolutely no reason to be long
03:16 if it takes out that early opening range.
03:20 Bottom or the top of yesterday's range,
03:22 way down at 129.84.
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